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- Oil_and_gas_agreement abstract "The oil and gas industry operates in countries throughout the world in accordance with a number of different types of agreements. These agreements generally fall into one of four categories (or a combination of the categories): risk agreements, concessions, production sharing agreements (PSAs, also known as production sharing contracts, PSCs) and service contracts. Traditional concession agreements pre-1940 were granted for large areas, sometimes the whole country e.g. Iraq. Those grants were for long term (50 to 99 years). The IOC had full discretion and control to explore and whether ornot to develop a particular field. This caused developments to be delayed, postponed or the expected investment did not immediately materialise. This was clear agains host governments interest. The contracts did not foreseen any relinquishment of non explored areas. Further more traditional concession agreements granted petroleum \"in situ\" to the IOC, with market and pricing powers. The royalties were flat or fixed for per unity rates and sometimes credited against income taxes. There were no or low signature bonus and sometimes no income taxation. Those terms were often \"frozen\" for the life of the agreement.After the second World War host governments relocated economic rents with the aim of increasing passive profit sharing. Towards the 60's and 70's Governments started to demand more active profit sharing through NOC Joint Ventures Participation.Participation Agreements: the NOC is \"Carried\" by an International Oil Company (IOC). The NOC burdens the IOC by not fully compensate the IOC for the risks assumed during exploration or to make a commercial discovery. The IOC faces the full losses and thus needs bigger success to compensate depending on NOC's share on the Joint Venture. However the International Oil Company benefit for example by having the NOC as partner whenfaced with nationalistic treats.".
- Oil_and_gas_agreement wikiPageID "18571468".
- Oil_and_gas_agreement wikiPageLength "2204".
- Oil_and_gas_agreement wikiPageOutDegree "6".
- Oil_and_gas_agreement wikiPageRevisionID "701810801".
- Oil_and_gas_agreement wikiPageWikiLink Category:Contract_law.
- Oil_and_gas_agreement wikiPageWikiLink Category:Oil_and_gas_law.
- Oil_and_gas_agreement wikiPageWikiLink Category:Petroleum_production.
- Oil_and_gas_agreement wikiPageWikiLink Concession_(contract).
- Oil_and_gas_agreement wikiPageWikiLink Production_sharing_agreement.
- Oil_and_gas_agreement wikiPageWikiLink Risk_agreement_(oil_and_gas).
- Oil_and_gas_agreement wikiPageWikiLinkText "Oil and gas agreement".
- Oil_and_gas_agreement wikiPageUsesTemplate Template:Original_research.
- Oil_and_gas_agreement wikiPageUsesTemplate Template:Petroleum-stub.
- Oil_and_gas_agreement wikiPageUsesTemplate Template:Petroleum_Industry.
- Oil_and_gas_agreement wikiPageUsesTemplate Template:Unreferenced.
- Oil_and_gas_agreement subject Category:Contract_law.
- Oil_and_gas_agreement subject Category:Oil_and_gas_law.
- Oil_and_gas_agreement subject Category:Petroleum_production.
- Oil_and_gas_agreement comment "The oil and gas industry operates in countries throughout the world in accordance with a number of different types of agreements. These agreements generally fall into one of four categories (or a combination of the categories): risk agreements, concessions, production sharing agreements (PSAs, also known as production sharing contracts, PSCs) and service contracts. Traditional concession agreements pre-1940 were granted for large areas, sometimes the whole country e.g. Iraq.".
- Oil_and_gas_agreement label "Oil and gas agreement".
- Oil_and_gas_agreement sameAs Q7081377.
- Oil_and_gas_agreement sameAs m.04g1j8b.
- Oil_and_gas_agreement sameAs Q7081377.
- Oil_and_gas_agreement wasDerivedFrom Oil_and_gas_agreement?oldid=701810801.
- Oil_and_gas_agreement isPrimaryTopicOf Oil_and_gas_agreement.